By and  on January 13, 2006

NEW YORK — Federated Department Stores Inc. has put Lord & Taylor up for sale after months of analyzing whether to retain it, pare it down or liquidate it.

After a board meeting Thursday, Federated finally concluded the $1.56 billion, 55-unit Lord & Taylor didn’t fit into its strategy to build up its Macy’s and Bloomingdale’s divisions into more powerful national brands. Federated believes that reviving L&T would be a costly distraction, and that selling it was the best option. At least one analyst estimated that L&T could fetch $745.3 million after tax.

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